AUSSIE-YEN: AUD/JPY has spiked to session highs of...>

AUSSIE-YEN: AUD/JPY has spiked to session highs of Y79.03 upon the release of

RBA Feb meeting minutes, but the move was immediately retraced, with the rate

trading 12 pips lower on the day, at Y78.74 at writing. The RBA highlighted an

increase in global risks. It also reiterated that there is "no strong case for

near-term move in rates", adding that the next rate move can be up or down. The

Bank pointed to significant uncertainties around its forecasts, as it noted that

consumption would be at risk in the case of further house price falls.

Consumption was once again identified as a key risk to the Bank's outlook. The

Bank also noted that labour market data has been stronger than other areas of

economic data.

- Bulls are focused on the upper 1.0% 10-DMA envelope at Y79.20, which capped

yesterday's gains. Conversely, bears look for a fall through yesterday's low of

Y78.73, towards the 21-DMA/50-DMA at Y78.57/54.